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California  + Orange County  + Apartments  | 
BWE Closes $100M Construction Loan for OC Housing Development

BWE Closes $100M Loan for OC Housing Development

Mortgage banking company Bellwether Enterprise Real Estate Capital LLC has closed a $100 million construction/perm loan to finance Cloud House, a Class A multifamily development in Stanton, CA. The 4.5% fixed rate loan terms includes a 3-year construction period and 10-year permanent loan with interest-only payments for the first 8 years.

BWE’s Tom Kenny and Alex Gregoire in the Irvine, CA office originated the loan on behalf of the borrower, Bonanni Development. “At BWE, we pride ourselves on working with partners to secure the best financing options, and Cloud House is an exceptional example of that commitment,” said Kenny in a news release.

The proposed five-story, 321-unit luxury apartment property consists of studio, one- and two-bedroom residences wrapped around a seven-story parking structure on 3.8 acres. Amenities include a rooftop sky deck with pool, fitness center and community outdoor spaces.  

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BWEBonanni DevelopmentTom Kenny

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Development
  • ◦Financing
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